Manny Pacquiao Lost $100 Million By Not Fighting Floyd Mayweather
Mike Ozanian, Forbes Staff
A few years back Floyd Mayweather and Manny Pacquiao were negotiating terms of a fight that would could have been the most lucrative boxing match of all time. It never happened because Pacquiao would not agree to Olympic-style drug testing.
Pacquiao’s decision cost him dearly.
Showtime Networks announced Thursday that the previous Saturday’s fight between Mayweather and Saul “Canelo” Alvarez generated a record $150 million in pay-per-view revenue, breaking the record of $136 million for Mayweather’s 2007 fight against Oscar De La Hoya. The Mayweather-Canelo fight at the MGM Grand Arena also set a record for largest gate for a boxing match at ($20 million) and and Richard Schaefer, CEO of Golden Boy Promotions, says the fight will exceed $200 million in total revenue when all revenue streams are counted.
Three years ago the split between Mayweather and Pacquiao would have been roughly 50-50 for a fight that would have grossed an estimated $200 million to $250 million.
Since then, Mayweather has remained undefeated by beating Shane Mosley, Victor Ortiz with a controversial knockout, Miguel Cotto, Robert Guerrero, and Alvarez. Meanwhile, Pacquiao defeated Jaun Manuel Marquez, but then lost to Timothy Bradley in a controversial decision, and got knocked out in his rematch with Marquez.
Pacquiao has never come close to earning what he could have made fighting Mayweather. His biggest payday: $25 million for his last Marquez bout. And Pacquiao’s brand has taken a hit with his recent losses. He is guaranteed to earn just $18 million from his next fight in November against Brandon Rios.
There have been some recent rumblings again recently, like there were in 2012, of Mayweather fighting Pacquiao. Mayweather recently told the Wall Street Journal he would consider such a bout if Pacquiao signed a promotions contract with Mayweather’s company. Who knows? What we do know is Pacquiao has already lost out on one $100 million payday.http://www.forbes.com/sites/mikeozanian ... ayweather/
Wrong move by Manny and his team ever! Pacman will never get that opportunity again.